The Bureau of the Treasury (BTr) has fully awarded bids for the 10-year treasury bonds auctioned yesterday as rates were within the secondary market level.
Tenders for the government IOUs amounted to P58.411 billion.
The government awarded P35 billion as programmed.
It fetched a rate of 7.344 percent, 64.1 basis points higher than the previous average of 6.703 percent.
Bids ranged between seven and 7.5 percent.
The Bloomberg Valuation Service reference rate for the same tenor is 7.202 percent.
“Full award seeing rates are within secondary levels for comparable maturities,” Rosalia de Leon, national treasurer, said after the auction.
Last Monday, the BTr rejected bids for the auctioned treasury bills as investors sought significantly higher rates.
The auction was also only slightly oversubscribed, with total tenders of P16.3 billion versus the P15 billion program. – Angela Celis
